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Is Bitcoin a Good Buy Right Now? Why Investors Are Buying This New BTC Mining Token

4 mins
Updated by Maria Petrova
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With crypto prices pumping over the past month, many investors want to know if they should buy Bitcoin while it sits under $40,000 or whether other investments could be more lucrative.

Currently, one crypto gathering much excitement is Bitcoin Minetrix, the native token to a revolutionary dApp moving Bitcoin mining toward mass adoption.

Bitcoin’s Upside Is Limited, But Analysts Remain Bullish

With Bitcoin famously proving the best-performing asset in the decade following its launch, many investors associate it with life-changing gains. However, gains of magnitudes seen in the past are unfortunately gone. 

While analysts are confident that it will outperform many other leading assets over the next 24 months, it is unlikely to make investors millionaires without substantial upfront investments.

According to JP Morgan, Bitcoin could reach $150,000 by the end of 2025. Based on its current price of $37.2K, this would render a 4x profit. As such, a $10K investment could be worth $40K.

Indeed, this is a notable return for two years. However, if this were Bitcoin’s peak bull market price, investors would need to time their exit perfectly or potentially sell for much less.

Meanwhile, another bank deeply involved with crypto, Standard Charted, estimates that Bitcoin could reach $120,000 by the end of 2024.

This coincides with JP Morgan’s prediction, providing more validity to both estimates.

However, MicroStrategy Founder Michael Saylor believes that demand for Bitcoin could be 10x in the next 12 months

Although Saylor does not explicitly state that Bitcoin’s price will be 10x in that time, a 10x demand growth should be at least 10x its price given the Bitcoin halving’s diminishing effect on its supply.

So, while Bitcoin undoubtedly holds upside potential, there are two things investors must consider. 

The first is that analysts warn of a potential pullback in the coming months. According to RektCapital, there is a window where Bitcoin’s price could see a deep retrace ahead of the halving.

The second is opportunity cost. Financial resources allocated to Bitcoin may have been better spent on another project that could outperform Bitcoin.

This is seen in previous market cycles, where projects like Solana, Ethereum, and Dogecoin have tremendously outperformed Bitcoin. However, these projects performed best when newly released with a low market cap and no price history.

In this upcoming cycle, one project analysts are backing to significantly outperform the market is Bitcoin Minetrix, a newly launched presale focused on Bitcoin mining.

Investors Back Bitcoin Minetrix as Presale Raises $4.1M in 7 Weeks 

Bitcoin Minetrix is a cutting-edge new project enabling users to cloud mine Bitcoin by staking BTCMTX on its Ethereum-based platform. The crypto is currently undergoing a presale, raising $4.1 million in seven weeks.

Its successful presale indicates tremendous excitement from its community, which is also evident in its backing from prominent crypto analysts.

According to YouTuber Crypto Boy, Bitcoin Minetrix could be 100x after it launches on exchanges. If correct, a $10K investment would theoretically make you a millionaire. While there is no guarantee it could reach this high, factors like its current discounted price and unprecedented use case hint at a promising future.

Michael Wrubel explained this in an analysis to his 300K subscribers, titling the video “Why I am bullish on BTCMTX.”

Meanwhile, Jacob Bury holds a more conservative prediction of 10x gains after it launches on exchanges. Nevertheless, Bury is also strongly bullish on Bitcoin Minetrix, dubbing it “The best crypto to buy now.”

As well as backing from analysts, Bitcoin Minetrix has caught the attention of the industry’s leading media figures. Despite still being in its presale, it has received coverage from esteemed outlets like Business Insider, Crypto News, Cointelegraph, and Bitcoin Magazine.

What is Bitcoin Minetrix?

Bitcoin Minetrix is a decentralized application (dApp) where users can stake BTCMTX tokens in exchange for Bitcoin mining credits. They can then burn these credits on the platform for cloud mining power, translating to free Bitcoin.

This compelling use case solves several Bitcoin mining problems, with the first being its inaccessibility to the average crypto user. Bitcoin Minetrix users can get started with just an Ethereum-compatible wallet and BTCMTX tokens – no mining hardware, technical expertise, or overhead costs!

It also solves the prevalent issue of cloud mining scams thanks to its decentralized and transparent BTCMTX token. 

Additionally, Bitcoin Minetrix places no space or noise constraints on the user like traditional Bitcoin mining and is more environmentally friendly.

Ultimately, its plethora of advantages has propelled it toward massive early success and could help push Bitcoin mining toward mass adoption.

Because its BTCMTX token is at the center of the operation, it could accrue immense demand. Moreover, its supply will be limited by many tokens being locked up for staking and rewards paid out in mining credits, not BTCMTX.

Currently, investors can buy BTCMTX for $0.0117, but they only have two days before its price rises.

Visit Bitcoin Minetrix Presale

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